High cost of living: Ghana ranks 3rd in West Africa

The latest data from Numbeo has ranked Ghana as the 3rd country in West Africa with the highest cost of living.

It added that the country ranked 20th among 24 countries with the lowest cost of living in Africa.

Numbeo's ranking is based on Rent Index, Groceries Index, Restaurant Purchase Index, and Local Purchasing Power Index.

Out of these, the overall Cost of Living Index was 26.0, ranking the country third in West Africa with the highest cost of living.

Ghana's position, according to Numbeo, was influenced by the slowdown in inflation and the depreciation of the cedi in 2023.

For the indicators, Ghana scored as follows:

Rent Index - 11.0.

Cost of Living Plus Rent Index - 18.8

Groceries Index - 27.2

Restaurant Purchase Index - 22.9

Local Purchasing Power Index - 14.8

For highest cost of living for other African countries, Cote d'Ivoire ranked 1st in Africa and West Africa with a Cost-of-Living Index of 44.7.

Senegal ranked second with an index of 44.0.

Ethiopia was 3rd with a score of 43.1, whilst Mozambique and Mauritius were 4th and 5th with scores of 43.0 and 39.8, respectively.

SSD/NOQ

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